SDK Establishes Subsidiary to Strengthen Battery Materials Business in China
TOKYO, Apr, 18 2018 - (JCN Newswire) - Showa Denko KK (SDK; TSE:4004) has established a wholly owned subsidiary, Showa Denko Battery Materials (Shanghai) Co., Ltd. (SDBM), to sell advanced battery materials and to strengthen the Company's battery materials business in China.
The market for lithium-ion batteries (LIBs) is rapidly expanding due to the spread of mobile electronic devices including smartphones and the on-board use of LIBs for New Energy Vehicles (NEVs), following environmental awareness on a global scale.
In China, the national policy to promote NEVs has been boosting the production and sales of electric vehicles (EVs) and plug-in hybrid electric vehicles (PHEVs), while many LIB manufacturers are actively conducting capital investment in China.
SDK had conducted all business activities for LIB materials in China through Showa Denko (Shanghai) Co., Ltd., a management company which had been acting as regional headquarters.
However, we established SDBM for faster decision making, strengthening relationships with major LIB manufacturers and gathering detailed information under immediate supervision of the Advanced Battery Materials Division.
"Project 2020+", our ongoing medium-term business plan, positions our LIB materials business as an "Advantage-establishing" business. We therefore establish SDBM at the center of our battery materials business in China, to further expand this business going forward.
Outline of the new company (SDBM):
1) Name: Showa Denko Battery Materials (Shanghai) Co., Ltd.
2) Address: 18F Wang-Wang Building, No. 211, Shimen Yi Road, Shanghai 200041, China
3) Capital: 100 million yen
4) Established: April 10, 2018
5) Business: Marketing and sales of battery materials in China
About Showa Denko K.K.
Showa Denko K.K. (SDK; TSE:4004, ADR:SHWDY), a major manufacturer of chemical products, serves a wide range of fields from heavy industry to electronics and computer industries. The Petrochemicals Sector provides cracker products such as ethylene and propylene, the Chemicals Sector provides industrial, high-performance and high-purity gases and chemicals for semicon and other industries, and the Inorganics Sector provides ceramic products, such as alumina, abrasives, refractory and graphite electrodes and fine carbon products. The Aluminum Sector provides aluminum materials and high-value-added fabricated aluminum, the Electronics Sector provides HD media, compound semiconductors such as ultra high-bright LEDs and rare earth magnetic alloys, and the Advanced Battery Materials Department (ABM) provides lithium-ion battery components. For more information, please visit www.sdk.co.jp/english/.
Showa Denko KK
Public Relations Office
Source: Showa Denko K.K.
Sectors: Chemicals, Alt. Energy
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